Zacks Investment Research Upgrades Vanda Pharmaceuticals (NASDAQ:VNDA) to Buy

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Zacks Investment Research upgraded shares of Vanda Pharmaceuticals (NASDAQ:VNDA) from a hold rating to a buy rating in a report published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $14.00 target price on the biopharmaceutical company’s stock.

According to Zacks, “Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of clinical-stage product candidates for central nervous system disorders. It is developing important new medicines to improve the lives of patients. It uses new technologies, including genetics & genomics, to inform our drug discovery, our clinical trials, and our commercial positioning of our compounds. The Company has three product candidates in clinical development. It’s lead product candidate, iloperidone, is a compound for the treatment of schizophrenia & bipolar disorder & is in a Phase III clinical trial for schizophrenia. It’s second product candidate, is a compound for the treatment of insomnia & depression which is currently in a Phase III clinical trial for insomnia. It’s third product candidate, is a compound for the treatment of excessive sleepiness & is ready for a Phase II clinical trial. “

Several other analysts have also recently weighed in on VNDA. ValuEngine upgraded shares of Vanda Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, August 1st. Stifel Nicolaus restated a hold rating and set a $17.00 price objective on shares of Vanda Pharmaceuticals in a research report on Wednesday, July 31st. BidaskClub cut shares of Vanda Pharmaceuticals from a sell rating to a strong sell rating in a research report on Thursday, April 11th. Oppenheimer set a $18.00 price objective on shares of Vanda Pharmaceuticals and gave the company a hold rating in a research report on Sunday, May 5th. Finally, Citigroup upgraded shares of Vanda Pharmaceuticals from a neutral rating to a buy rating and set a $19.00 price objective on the stock in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $26.57.

Shares of NASDAQ:VNDA opened at $15.33 on Friday. The firm has a fifty day moving average price of $13.75. Vanda Pharmaceuticals has a one year low of $11.83 and a one year high of $33.44. The company has a market cap of $810.88 million, a P/E ratio of 31.94 and a beta of 0.38.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.24. Vanda Pharmaceuticals had a net margin of 13.61% and a return on equity of 10.23%. The firm had revenue of $59.06 million during the quarter, compared to the consensus estimate of $54.19 million. During the same period last year, the firm earned $0.15 EPS. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. Equities research analysts predict that Vanda Pharmaceuticals will post 0.07 earnings per share for the current year.

In related news, CEO Mihael Hristos Polymeropoulos sold 72,872 shares of Vanda Pharmaceuticals stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $15.34, for a total value of $1,117,856.48. Following the transaction, the chief executive officer now owns 1,276,343 shares in the company, valued at approximately $19,579,101.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.20% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Advisor Group Inc. raised its stake in Vanda Pharmaceuticals by 66.2% during the 4th quarter. Advisor Group Inc. now owns 2,916 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 1,161 shares during the period. Dimensional Fund Advisors LP raised its stake in Vanda Pharmaceuticals by 104.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 530,705 shares of the biopharmaceutical company’s stock worth $13,867,000 after buying an additional 270,795 shares during the period. Geode Capital Management LLC raised its stake in Vanda Pharmaceuticals by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 596,626 shares of the biopharmaceutical company’s stock worth $15,588,000 after buying an additional 6,666 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Vanda Pharmaceuticals by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 17,187 shares of the biopharmaceutical company’s stock worth $449,000 after buying an additional 13,423 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Vanda Pharmaceuticals during the 4th quarter worth $396,000. Institutional investors own 99.33% of the company’s stock.

About Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs and improve the lives of patients. The company's marketed products include HETLIOZ (tasimelteon), a product for the treatment of non-24-hour sleep-wake disorders; and Fanapt (iloperidone), a product for the treatment of schizophrenia.

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